Consensus Cloud Solutions, Inc. - CCSI STOCK NEWS

Consensus Cloud Solutions (NASDAQ: CCSI) announced the provision of free eFax Protect, a HIPAA-compliant digital cloud faxing service, to those affected by Los Angeles-area wildfires. The complimentary service, available from January 17, aims to maintain uninterrupted communication during the crisis, particularly important for healthcare providers, individuals, and businesses.

According to company data, over 60% of physicians still rely on fax communications. The initiative focuses on enabling secure transmission of critical documents via mobile devices, supporting disaster response efforts. As a Los Angeles-based company, Consensus is particularly committed to supporting its local community during this challenging period.

Consensus Cloud Solutions (NASDAQ: CCSI) has been named a Leader in the IDC MarketScape: Worldwide Digital Fax 2024 Vendor Assessment. The recognition highlights the company's strengths in brand, interoperability, customer service, and patents. IDC MarketScape emphasized Consensus's 25+ year history as a pioneer in the cloud fax market and its complementary technologies including streamlined workflows, digital signature support, and AI technology for information extraction.

The report emphasizes how digital fax's potential is maximized through integration with other technologies, including APIs, artificial intelligence, and eSignature tools, enabling organizations to transform fax data into actionable insights. Consensus's flagship product, eFax®, has evolved from a simple online faxing tool into a comprehensive cloud-based platform featuring AI-powered data extraction, advanced electronic signatures, and other innovative features.

Consensus Cloud Solutions (NASDAQ: CCSI) has been recognized as a Top 100 Healthcare Technology Company of 2024 by The Healthcare Technology Report, ranking 34th overall and 7th in the Software and Data category. The company's digital cloud fax technology and interoperability solutions have been acknowledged for facilitating secure data exchange.

The company offers various technologies including secure cloud faxing, electronic signature, and data integration tools for HL7 and FHIR, along with newly introduced AI-powered intelligent data extraction technology. These solutions serve major healthcare organizations, pharmacies, providers, and health IT companies globally, helping them navigate complex regulatory requirements and cybersecurity challenges while maintaining strict security standards.

Consensus Cloud Solutions (NASDAQ: CCSI) reported Q3 2024 results with quarterly revenues of $87.8 million, down 3.1% year-over-year. The decline was primarily due to a 13.6% decrease in SoHo business, partially offset by a 5.3% increase in Corporate business. Net income decreased to $21.1 million from $24.0 million in Q3 2023. Adjusted EBITDA was $46.9 million with a margin of 53.5%. The company retired $31 million of debt in Q3, bringing total debt retirement to $187 million over the past year. The company reaffirmed its full-year 2024 guidance with revenues expected between $346-350 million.

Consensus Cloud Solutions (NASDAQ: CCSI) has announced its upcoming Q3 earnings call, scheduled for November 7, 2024, at 5:00 PM ET / 2:00 PM PT. The live audio webcast will feature CEO Scott Turicchi, CRO Johnny Hecker, and CFO Jim Malone, who will discuss Q3 financial results, provide a business update, and host a Q&A session.

Interested parties can join the call via the webcast link or by dialing in. Questions for the conference can be submitted via email to investor@consensus.com before or during the webcast. For those unable to attend live, the call and presentation materials will be archived on the company's investor relations website.

Consensus Cloud Solutions (NASDAQ: CCSI) and Olah Healthcare Technology have announced a strategic partnership to modernize data exchange and access to patient health information. This collaboration aims to simplify the transition from outdated legacy systems to modern, cloud-based technology in healthcare.

Key points of the partnership include:

• Olah will help customers migrate from on-premise faxing to Consensus' eFax Corporate® cloud fax platform
• Integration of faxed data into comprehensive data archiving solutions
• Enhanced data management, accessibility, and cost savings for healthcare organizations
• Expanded market reach and new revenue opportunities for both companies

This partnership strengthens Consensus' position in healthcare cloud faxing and offers Olah's customers a streamlined transition to more efficient data retention strategies.

Consensus Cloud Solutions (NASDAQ: CCSI) reported Q2 2024 results with revenues of $87.5 million, down 5.7% year-over-year. Despite the revenue decline, the company saw improvements in profitability metrics. Net income increased 13.4% to $23.9 million, with a net income margin of 27.3%. Adjusted EBITDA rose to $49.1 million with a margin of 56.1%. The company's SoHo business decreased by 15.7%, while the Corporate business grew by 2.7%.

Consensus raised its full-year 2024 Adjusted EPS guidance and reaffirmed revenue and Adjusted EBITDA guidance. The company also made progress in debt reduction, repurchasing nearly $30 million in bonds during Q2 and reducing total debt by approximately $156 million since November 2023.

Consensus Cloud Solutions (NASDAQ: CCSI) celebrates 25 years of providing online fax service as a publicly-traded company. Their flagship product, eFax, has evolved from a simple online fax service to a comprehensive digital communication cloud. Key milestones include:

- 1999: JFAX.com goes public
- 2001: Web interface added to eFax
- 2003: eFax Corporate launched
- 2004: Patent granted for internet fax technology
- 2010: Mobile apps introduced
- 2019: HITRUST certification received
- 2021: Consensus Cloud Solutions spins off from J2 Global
- 2022: Partnership with Cognosante for federal enterprise cloud fax services

eFax now incorporates AI, NLP, and large language models for data extraction, advanced e-signatures, and other cutting-edge features. CEO Scott Turicchi emphasizes the company's commitment to innovation and leadership in secure document exchange.

Consensus Cloud Solutions (NASDAQ: CCSI) will host its Q2 earnings call on August 8th, 2024, at 2:00 PM PT/5:00 PM ET. The call will feature presentations from CEO Scott Turicchi, CRO Johnny Hecker, and CFO Jim Malone, covering the company's financial results and business updates. A live Q&A session will follow the presentations. Interested parties can access the Webcast at https://www.webcaster4.com/Webcast/Page/2779/50804 or dial in at (833) 492-0037 [U.S.] or +1(973) 528-0159 [International]. Questions can be submitted via email to investor@consensus.com before or during the Webcast. Archived materials will be available at https://www.investor.consensus.com/.